Ant Group Granted Approval to Release Artificial Intelligence Products in China
SHANGHAI, Nov 6 – Ant Group, the financial affiliate of e-commerce giant Alibaba Group, has received approval from the Chinese government to release products powered by its “Bailing” artificial intelligence (AI) large language model to the public, according to a spokesperson for the company.
Unlike other countries, China requires companies to undergo security assessments and obtain clearance before releasing AI products to the public. This move highlights China’s strict regulatory framework surrounding the use and deployment of AI technology.
The “Bailing” AI model, specifically designed for the finance sector, was unveiled by Ant Group in September. The company has been testing consumer and professional applications for these AI-powered products.
Ant Group’s AI technology is expected to provide innovative solutions in the finance industry by utilizing natural language processing and machine learning capabilities. These products have the potential to revolutionize customer service, risk assessment, and investment strategies.
The approval from the Chinese government is a significant milestone for Ant Group, as it allows the company to bring its AI-powered products to market and offer them to the general public. This move could potentially enhance Ant Group’s position in the highly competitive finance and technology sector in China.
The release of these AI products also aligns with Alibaba Group’s broader strategy to leverage advanced technologies, including AI, to drive innovation and growth across its various business segments.
Ant Group continues to work closely with regulatory authorities to ensure compliance with all relevant laws and regulations. The company’s commitment to security assessments and obtaining clearance demonstrates its dedication to maintaining a high standard of product safety and user protection.
As China continues to lead the way in AI development and adoption, the approval granted to Ant Group showcases the country’s commitment to fostering technological advancements while prioritizing security and regulatory compliance.
Reporting by Brenda Goh; Editing by Christian Schmollinger
This article was created using content originally published by Reuters, with additional information added for context. The Thomson Reuters Trust Principles apply.